There was pretty good volatility today even though it is a shorted week. I did not expect much action this week, so today I was caught off guard. I was also very hesitant so I missed out some nice shorts at around 10am when many stocks broke down. I had two small shorts, one in EJ and one in YGE, but I took profits early. After those trades I was up around $250. I churned for a bit before I caught some shorts in MON. I was up over $500 at my high but I was greedy. After some chop I was left with what I have now.
- I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year. My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets. In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.